Ameresco and United Power Celebrate Completing Construction of Colorado's Largest Distributed Battery Energy Storage System to Enhance Resiliency and Energy Security

Ameresco celebrates the completion of construction of the largest wholly owned BESS asset portfolio in its history

Ameresco, Inc., (NYSE:AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the successful completion of construction of multiple Battery Energy Storage Systems (BESS) in collaboration with United Power, Inc., an electric cooperative serving Colorado's northern Front Range. These battery energy storage systems underscore significant advancements in utility infrastructure, enhancing both resiliency and energy security as the industry shifts toward a more sustainable future. Together they also represent the largest wholly owned BESS asset portfolio in Ameresco's history.

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United Power and Ameresco celebrated the ribbon cutting ceremony at United Power's Bromley Substation located in Brighton, CO. (Photo: Business Wire)

The assets are designed to provide 78.3 MW, 313.34 MWh of battery storage capacity to the United Power electric distribution system across multiple sites. Five of the sites have been placed in service and the remaining three sites are expected to be placed in service by the end of the summer. Strategically positioned throughout United Power's service territory, these eight advanced battery arrays are pivotal in enabling United Power to enhance load balancing and integrate renewable resources seamlessly.

"The use of batteries on our distribution network is essential to a resilient and responsive power grid, and we are excited to be moving ahead with one of the most aggressive plans for such systems. These battery energy storage systems will allow us to balance our power needs throughout the day and incorporate local renewables more efficiently," said Mark A. Gabriel, President and CEO of United Power.

The Ameresco-owned assets consist of four 11.75 MW and four 7.84 MW battery energy storage systems across the eight different substation sites owned by United Power, located in Adams, Broomfield, and Weld counties. In addition, Ameresco integrated Stem's AI-driven clean energy software to efficiently operate and maintain the systems. These batteries will allow the cooperative to store and dispatch power efficiently during periods of high consumption. By leveraging this innovative technology, United Power optimizes its energy resources, enhances its grid resilience, and ensures a reliable electricity supply for its members.

"Partnering with United Power on these transformational battery energy storage systems has been incredible – in just under a year of working together we have accomplished so much," said Jonathan Mancini, Senior Vice President, Ameresco. "The inclusion of this expansive set of assets in Ameresco's portfolio is an amazing milestone for our team, as our largest wholly owned BESS asset portfolio to date. Energy storage plays – and will continue to play – a crucial role in enhancing grid reliability, optimizing renewable energy utilization, and fostering a resilient and efficient energy future. We look forward to continuing to help support utility companies in meeting increasing demand."

Today, a ribbon-cutting ceremony was held to celebrate completing construction of the BESS assets. The event took place at United Power's Bromley Substation located in Brighton, CO.

For additional information on Ameresco and its energy solutions, visit www.ameresco.com.

To learn more about United Power's industry leading energy transition outlined in our long-term vision for the future, read Our Cooperative Roadmap at www.unitedpower.com/roadmap.

About United Power

United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms, and businesses throughout Colorado's northern front range. The cooperative is one of the fastest-growing electric co-ops in the nation, serving more than 112,000 meters. It's 900-square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson, and Keenesburg. United Power is also a founding member of the NextGen Cooperative Alliance, which is dedicated to expanding the power supply and procurement options available to distribution co-ops and reforming the traditional generation and transmission business model. For more information about United Power, visit www.unitedpower.com or follow the cooperative on Facebook, X, LinkedIn, YouTube, and Instagram.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

The announcement of the development of a renewable energy asset by Ameresco is not necessarily indicative of the timing or amount of revenue from such asset, of the company's overall revenue for any particular period or of trends in the company's overall total assets in development or operation. This project was included in our previously reported assets in development as of March 31, 2024.

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